3. Transactions With Common Monetary Area Residents

There are no foreign exchange restrictions between banks of the Common Monetary Area (CMA) member countries in respect of cross-border transactions amongst themselves. Lesotho, Namibia and eSwatini have their own monetary authorities and legislation. The application of exchange control within the CMA is governed by the Multilateral Monetary Agreement.

Investments and transfers of funds in Rand from/to South Africa to/from other CMA countries do not require the approval of the Financial Surveillance Department.

CMA country currencies comprise of the following: South African Rand, Lesotho Maloti, eSwatini Emalangeni and Namibian Dollar.